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SPAC back? Falcon's Beyond to merge with Sandy Beall's firm

Tim Baysinger
Jul 13, 2022
Illustration of checks falling
Illustration: Sarah Grillo/Axios

The move by experiential entertainment company Falcon's Beyond to go public via a SPAC shows that, for certain sectors and sub-sectors, this listing vehicle is still on the table.

Why it matters: The SPAC market has gone from feast to famine over the first half of 2022. ECM bankers and lawyers, not to mention executives and their investors, will watch the Falcon's process closely for signs of life in the otherwise moribund SPAC channel.

Zoom in: The Orlando-based company plans to list via a merger with Fast Acquisition Corp II, the SPAC backed by Ruby Tuesday's founder Sandy Beall.

  • Fast II is backed primarily by those in the hospitality space, and counts NFL star Ndamukong Suh as an adviser.

Catch up quick: Falcon's Beyond has helped to plan and develop more than $100 billion worth of development projects, entertainment experiences and experiential technology.

  • Clients include Walt Disney World, Universal Studios, SeaWorld Parks & Entertainment, Atlantis, Marvel, National Geographic, NASA, AT&T, Lego, Hard Rock, Formula One, Lionsgate, Cartoon Network and Microsoft.
  • In November, it announced a joint venture with Meliá Hotels to build a theme park in Punta Cana that will use characters from "CoComelon." The company is also developing a theme park in Saudi Arabia near its capital, Riyadh, with Qiddiya Investment Co.
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